Roblox Corporation $RBLX Shares Sold by Freestone Capital Holdings LLC

Key Points

• Freestone Capital Holdings LLC reduced its holdings in Roblox Corporation by 31.8%, selling 14,776 shares, resulting in ownership of 31,657 shares worth $1,845,000.
• Roblox's stock price opened at $117.41, experiencing a decrease of 6.3%, with a market capitalization of $75.73 billion and substantial recent insider selling by CEO David Baszucki.
• Investment analysts have given Roblox a consensus rating of "Moderate Buy" with a price target averaging $117.59, though the stock is currently below its 52-week high of $150.59.

Freestone Capital Holdings LLC cut its holdings in shares of Roblox Corporation (NYSE:RBLX - Free Report) by 31.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 31,657 shares of the company's stock after selling 14,776 shares during the period. Freestone Capital Holdings LLC's holdings in Roblox were worth $1,845,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Cresset Asset Management LLC grew its position in shares of Roblox by 3.8% during the 1st quarter. Cresset Asset Management LLC now owns 22,881 shares of the company's stock valued at $1,334,000 after acquiring an additional 834 shares during the period. Ethic Inc. acquired a new stake in Roblox in the 1st quarter worth about $534,000. Aberdeen Group plc boosted its holdings in Roblox by 0.7% in the 1st quarter. Aberdeen Group plc now owns 81,185 shares of the company's stock worth $4,732,000 after buying an additional 600 shares during the last quarter. Fox Run Management L.L.C. boosted its holdings in Roblox by 56.5% in the 1st quarter. Fox Run Management L.L.C. now owns 12,161 shares of the company's stock worth $709,000 after buying an additional 4,390 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its holdings in Roblox by 51.7% in the 1st quarter. Neuberger Berman Group LLC now owns 1,246,265 shares of the company's stock worth $72,645,000 after buying an additional 424,545 shares during the last quarter. 94.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RBLX. BTIG Research set a $131.00 price objective on Roblox and gave the stock a "buy" rating in a report on Monday, July 28th. Citigroup lifted their price objective on Roblox from $123.00 to $152.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Barclays lifted their price objective on Roblox from $62.00 to $120.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Wells Fargo & Company raised their target price on shares of Roblox from $116.00 to $153.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, Benchmark raised their target price on shares of Roblox from $77.00 to $150.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $117.59.

Roblox Stock Down 6.3%

Roblox stock opened at $117.41 on Monday. The firm has a 50 day moving average price of $112.96 and a 200 day moving average price of $83.00. The company has a market capitalization of $75.73 billion, a PE ratio of -82.10 and a beta of 1.63. The company has a debt-to-equity ratio of 2.94, a quick ratio of 0.97 and a current ratio of 0.97. Roblox Corporation has a fifty-two week low of $37.50 and a fifty-two week high of $150.59.

Roblox (NYSE:RBLX - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.04). The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.20 billion. Roblox had a negative return on equity of 372.96% and a negative net margin of 23.67%. The business's revenue was up 50.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.32) EPS. Research analysts expect that Roblox Corporation will post -1.49 earnings per share for the current year.

Insider Activity at Roblox

In other Roblox news, CEO David Baszucki sold 687,500 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $87.97, for a total value of $60,479,375.00. Following the completion of the transaction, the chief executive officer owned 211,559 shares in the company, valued at $18,610,845.23. The trade was a 76.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have sold a total of 5,127,213 shares of company stock valued at $493,410,989 in the last three months. Insiders own 12.92% of the company's stock.

About Roblox

Roblox Corporation develops and operates an online entertainment platform in the United States and internationally. It offers Roblox Studio, a free toolset that allows developers and creators to build, publish, and operate 3D experiences, and other content; Roblox Client, an application that allows users to explore 3D experience; and Roblox Cloud, which provides services and infrastructure that power the platform.

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